Eko DisCo Earmarks N18bn Expenditure For 2023

Eko Electricity Distribution Company (Eko DisCo) has said it has earmarked N18 billion for expenditure in 2023.

Managing director/CEO of the company, Tinuade Sanda, while reviewing the company’s 2022 performance and projections for the new year, revealed the company would spend about N18 billion on capital projects which aims at improving services across its network area.

She said the company is planning to expand its engagement with Independent Power Producers(IPP) for embedded generation, as well as mini-grids for improved power supply.

This ,she said, would lead to improvement in the customer satisfaction index, while the management will deepen customer metering Intervention through Meter Asset Provider, MAP scheme and the National Mass Meter Programme, phases 1 & 2.

In addition, the company is planning expanded business development initiatives to make its services more attractive to recapture customers that migrated to alternative power sources.

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Sanda, also said the company would endeavour to provide critical work tools to field representatives to cover the present gap still in existence.

Some key aspect of the expenditure for the year will help in opening of the Transformer and Equipment Repair Workshop, Inauguration of the EKEDP Training Institute, Recruitment of Talent (EDTP) and fencing of all Distribution Substations.

Sanda said, the company has projected to achieve Aggregate Technical and Commercial Collection(ATC&C) Losses ranging between 18.92 per cent and 21.55 per cent.

The company is also targeting total annual billing and collection above N200billion as well as full settlement of electricity market invoices in line with NERC Minimum Remittance Order.

Other targets announced by the MD include, enhanced profitability and declaring and payment of dividend to shareholders, zero fatality and injuries, rehabilitation of all frequent tripping feeders to guarantee uninterrupted power supply, among others.